Rayonier Advanced Materials (NYSE:RYAM) Trading 10% Higher After Analyst Upgrade

Rayonier Advanced Materials Inc. (NYSE:RYAM)’s share price rose 10% during trading on Wednesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $9.66 and last traded at $9.64. 793,383 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 1,043,090 shares. The stock had previously closed at $8.76.

A number of other research analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Rayonier Advanced Materials in a report on Friday, July 17th. Wall Street Zen raised Rayonier Advanced Materials from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada cut their price target on shares of Rayonier Advanced Materials from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rayonier Advanced Materials has an average rating of “Hold” and a consensus price target of $13.00.

Institutional Trading of Rayonier Advanced Materials

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG grew its holdings in shares of Rayonier Advanced Materials by 1.5% during the fourth quarter. Deutsche Bank AG now owns 151,944 shares of the basic materials company’s stock worth $895,000 after buying an additional 2,292 shares in the last quarter. Barclays PLC lifted its stake in shares of Rayonier Advanced Materials by 4.5% in the fourth quarter. Barclays PLC now owns 100,484 shares of the basic materials company’s stock worth $592,000 after buying an additional 4,348 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Rayonier Advanced Materials by 19.1% in the fourth quarter. Intech Investment Management LLC now owns 27,725 shares of the basic materials company’s stock worth $163,000 after buying an additional 4,438 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rayonier Advanced Materials by 13.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,121 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 4,714 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Rayonier Advanced Materials by 39.5% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 20,198 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 5,721 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

Rayonier Advanced Materials Stock Performance

The company has a market cap of $618.76 million, a PE ratio of -4.37 and a beta of 1.77. The company has a debt-to-equity ratio of 3.82, a quick ratio of 0.79 and a current ratio of 1.37. The firm’s 50 day moving average is $8.26 and its 200-day moving average is $8.99.

Rayonier Advanced Materials (NYSE:RYAM) last released its earnings results on Tuesday, August 4th. The basic materials company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $376.14 million during the quarter, compared to analysts’ expectations of $362.00 million. Rayonier Advanced Materials had a negative return on equity of 46.18% and a negative net margin of 9.53%. On average, research analysts anticipate that Rayonier Advanced Materials Inc. will post -1.16 earnings per share for the current fiscal year.

About Rayonier Advanced Materials

Rayonier Advanced Materials, Inc is a publicly traded specialty bioproducts company focused on the production of high-purity cellulose and engineered wood products. Headquartered in Jacksonville, Florida, the company operates a network of manufacturing facilities across North America, New Zealand and Europe. Its cellulose specialties business produces dissolving pulps and high-purity fibers that serve a range of end markets, including food and beverage, personal care, pharmaceuticals and textiles.